Requirements

No prior knowledge is needed.

Description

This is an interesting course for business people especially the retailers who must understand the concept of demand and supply in smooth and successful running of the business. After reading this course, one can get a clear idea about What is Managerial Economics, Principles of Managerial Economics, Classification of Market Structures, Law of Demand, Price Elasticity of Supply & Supply Curve, etc.

The introduction part itself clearly explains the importance of demand and supply in a business with the help of a wonderful example.Tables and graphs are used to explain the various concepts of economics clearly.There is one real life example in the course which explains about the law of diminishing marginal utility.It also explains how the marginal utility diminishes with the consumption of each unit. Each and every concept is very well laid and explained in this course and the practice section at the end of the course is very interesting.